SYNOPSIS: Refex Industries faced Income Tax search operations, prompting full cooperation from the company. Its stock hit the lower circuit following the development, though operations remain unaffected, and updates will be provided as required.

During Friday’s trading session, shares of a company with a diverse portfolio encompassing ash & coal handling, eco-friendly refrigerant gases, green mobility initiatives, and wind energy solutions, hit a 20 percent lower circuit on the stock exchanges. What triggered this steep fall? Let’s break it down in this article.

With a market cap of Rs. 3,481 crores, shares of Refex Industries Limited hit a 20 percent lower circuit to a new 52-week low at Rs. 254.35 on BSE, as against its previous closing of Rs. 317.9.

The stock has delivered negati

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